New Procedures for Car Insurance? - Page 2

Sage04 · ‎07-10-2011

They check your credit so that they can determine what rate to give you. For some reason they think that someone with a poor credit score would file more claims. Does not make any sense.

What will they come up with next? I just went with a new Insurance Company and as far as I know they did not check my credit. They would have had to let me know if they did.

Sage04 · ‎07-10-2011

@deeva wrote:
Most insurance companies base their rates for new customers on your credit score. If your son's credit is low, he's likely going to have to pay more.

@deeva sorry about that. Didn't realize that I repeated the same thing you said.

Sage04 · ‎07-10-2011

@drizzellla did you complete the Motor Vehicle Title application with the State? They would have to see the title in your son's name before insuring him.

Maybe he can check around and see what others are offering.

drizzellla · ‎03-14-2010

@Sage04 wrote:
They check your credit so that they can determine what rate to give you. For some reason they think that someone with a poor credit score would file more claims. Does not make any sense.

What will they come up with next? I just went with a new Insurance Company and as far as I know they did not check my credit. They would have had to let me know if they did.

But since my son has been with State Farm - at the same office for 20 years - Wouldn't State Farm have a good idea what kind of risk they are taking by insuring my son?

When I worked for Disney they insisted that all employees have their crdit checked, if you were to remain an employee.

I understand a company has to be mindful of the risk. But 20 years should be a resonable amount of time to show the risk they are dealing with.

Sage04 · ‎07-10-2011

They are just trying to justify having to add on a few thousand dollars more.

Tinkrbl44 · ‎08-23-2010

@drizzellla wrote:
@Sage04 wrote:
They check your credit so that they can determine what rate to give you. For some reason they think that someone with a poor credit score would file more claims. Does not make any sense.

What will they come up with next? I just went with a new Insurance Company and as far as I know they did not check my credit. They would have had to let me know if they did.

But since my son has been with State Farm - at the same office for 20 years - Wouldn't State Farm have a good idea what kind of risk they are taking by insuring my son?

When I worked for Disney they insisted that all employees have their crdit checked, if you were to remain an employee.

I understand a company has to be mindful of the risk. But 20 years should be a resonable amount of time to show the risk they are dealing with.

@drizzellla

Sorry if I missed it, but I assume you had a frank discussion with your agent. What do THEY say?

Personally, I would shop around with a couple insurance agents and see what they come up with.

Not that doing so will start a bidding war, but people have to get over the idea that a "long time customer" means anything anymore. It doesn't.

You are a "free agent" and can change companies every single year if it benefits you to do so.

drizzellla · ‎03-14-2010

@Sage04 wrote:
@drizzellla did you complete the Motor Vehicle Title application with the State? They would have to see the title in your son's name before insuring him.

Maybe you he can check aroubd and see what others are offering.

Yes, we changed the title of my old car to my son's name. As soon as he took possession of my old car.

Oh, I think we burned our bridge with our State Farm agent. Since my husband did not understand why they would not put my son's name on his car insurance, The agent went into overdrive about us signing new forms on all our vehicles.

Love my grandkids · ‎11-24-2013

@drizzellla You say your son has been with SF for 20 years but the insurance is NOT in his name so *technically* he hasn't been with them for 20 years.

Do I understand this correctly? If he wants it in his name he has to get a credit check. Is there some reason he won't or doesn't want to?

Kachina624 · ‎03-10-2010

@drizzellla. You probably need to be asking State Farm, not us. I haven't had any such requests from my insurance company.

I wonder why credit is such an issue with auto insurance? If you don't pay, all they have to do is cancel it. It has never been mentioned when I've gotten insurance.

New Mexico☀️Land Of Enchantment

Tinkrbl44 · ‎08-23-2010

@Love my grandkids wrote:
@drizzellla You say your son has been with SF for 20 years but the insurance is NOT in his name so *technically* he hasn't been with them for 20 years.

Do I understand this correctly? If he wants it in his name he has to get a credit check. Is there some reason he won't or doesn't want to?

@Love my grandkids

ITA .... A 36 year old man is a grown up and shouldn't be on his parents' insurance ..... unless there are extenuating circumstances.